Newsfeed: Mortgage applications drop 50 percent…
The real estate market is cooling quickly …
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Newsfeed: Sales of New U.S. Homes Drop to Lowest in Four Months
Sales of new U.S. homes fell in March to a four-month low, indicating high prices and surging borrowing costs are putting more of a squeeze on the market.
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Newsfeed: US New Home Sales Crashed In March
Analysts expected a 3rd straight month of declines in new home sales in March, but they did not see this bloodbath coming. New Home Sales crashed 8.6% MoM (vs -0.6% exp). That drags new home sales down 12.6% YoY.
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Podcast: Lessons From Six Decades of Real Estate Investing
For real estate investors, there’s a lot of insight and perspective to be gained from others who have traveled a similar path …
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Newsfeed: U.S Mortgage Rates Rise for a Seventh Consecutive Week
In the week ending April 21, 2022, mortgage rates rose for a seventh consecutive week. 30-year fixed rates rose by 11 basis points to 5.11%. 30-year fixed rates jumped by 28 basis points in the week prior.
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Newsfeed: What home prices will look like in 2023, according to Zillow’s revised downward forecast
There’s no doubt about it: Soaring mortgage rates are an economic shock to the U.S. housing market. Over the past month alone, the average 30-year fixed mortgage rate has spiked from 3.11% to 5.11%.
Newsfeed: U.S. Foreclosure Activity Sets Post Pandemic Highs in First Quarter of 2022
After dismal earnings by such mammoth retailers as Walmart, Targets and this morning’s “horror report” by Abercrombie and Fitch, on Tuesday afternoon we actually got a solid report by Nordstrom, which not only printed strong earnings but also hiked guidance sending the stock higher as much as 12%.
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Newsfeed: US Existing Home Sales Slump Near 2-Year Lows As Mortgage Rates Soar
Almost one year ago, Redfin CEO Glenn Kelman spoke with Bloomberg Radio about the state of the US housing market, and said that the ongoing surge in home prices could subside.
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Newsfeed: Multi-Family Unit Surge Sparks Rise in Housing Starts, Permits In March
As mortgage rates rise, homebuilder sentiment slips, and home sales weaken, analysts expected housing permits and starts to fall MoM in March but, thanks in part to downward revisions for Feb’s data, Housing Starts surprised with a +0.3% MoM rise (vs -1.6% MoM exp) and Permits up 0.4% MoM (vs -2.4% MoM exp)…
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Newsfeed: Inflation Rate Signals Tighter Monetary Policy and Threatens ‘Soft Landing’
Our updated forecast includes an expectation of a modest recession in the latter half of 2023 as we see a contraction in economic activity as the most likely path to meet the Federal Reserve’s inflation objective given the current rate of wage growth and inflation.
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